Property Q&A in Corona>Question Details

J_bear64, Home Buyer in Corona, CA

I don't really understand the transfer value. Is this home being sold for $191,891?

Asked by J_bear64, Corona, CA Sat Jun 16, 2012

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This question is about this property: http://www.trulia.com/foreclosure/3076792093--White-Ranch-Ci…

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Answers

6
The transfer value is the Amount paid for the property the last time it sold. In the case of Pre-Foreclosure and Auction properties, this amount represents the amount the owner in default paid for the property when he or she originally purchased it. In the case of REOs, this usually represents the winning bid amount at the auction and, therefore, the amount the foreclosing lender needs to recoup to break even. Soome times the properties are totally upgraded and put back on the market and will be priced according to the current market value of the home.
Bobbie Johnson
Prudential California Realty
0 votes Thank Flag Link Sat Jun 16, 2012
The buyers group,

There were 2 posts before you that reference was made to.
0 votes Thank Flag Link Sat Jun 16, 2012
Interesting that the previous agent to post an answer states that he is a "territory manager for Realtytrac". If you click on the Trulia link to the listing, beside the stated price "$191,891 transfer value", is a link "What's this?" If you click on that link, it brings up Realtytrac's definition of transfer value -- which is verbatim what I posted previously.
0 votes Thank Flag Link Sat Jun 16, 2012
Also, the information tab "what's this" is Trulia's definition to the term not Realtytrac's. My definition came from a Realytrac training.
Have a great weekend! :)
Flag Sat Jun 16, 2012
Hello,

Unfortunately both of these answers below are in accurate. Transfer value is a value utilized ONLY when a home is foreclosed on and taken back by the lender (If a home was sold in any way that would be a "sales price" or "purchase price" value). When a title transfer is made a dollar amount has to be associated with the transfer. That is what the transfer value is. Some lenders make the number representative of the amount owed, the default amount, etc, but most importantly the transfer value has NO representation of what the value of the property is or what the lender will be willing to accept as suitable payment for the property.

As a territory manager for Realtytrac (publisher of this information) you can ensure that the answer above is accurate.

If you have any further questions please feel free to give me a call.

Thank you!



Craig Chastain
Realtor/Owner
Next Level Realty
909.243.4251
sellyourhomewithcraig@yahoo.com
0 votes Thank Flag Link Sat Jun 16, 2012
Transfer value is the amount paid for the property the last time it sold. In the case of Pre-Foreclosure and Auction properties, this amount represents the amount the owner in default paid for the property when he or she originally purchased it. In the case of REOs, this usually represents the winning bid amount at the auction and, therefore, the amount the foreclosing lender needs to recoup to break even
0 votes Thank Flag Link Sat Jun 16, 2012
Hi J,
Yes this is a foreclosure and is being sold at that price.


Please feel free to call or email me with any questions about homes in Corona or Eastvale.



Lydia Kray- Corona/Eastvale Realtor area specialist
Tarbell Realtors
cell 951-733-1058
http://www.LydiaKray.com
0 votes Thank Flag Link Sat Jun 16, 2012
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